All Forum Posts by: Account Closed

@Eamonn McElroy

Thank you sir.

@Eamonn McElroy

Thanks for the prompt response.

Would this still be the case if the executor was the sole heir to the decedents estate and is solely using the estate for asset protection?

Can a deceased person's estate be used as an LLC by the executor to purchase other properties and conduct business?

@Franky Aikens

First off, excellent choice of discussion.

Secondly, I think I've seen all that I'd recommend mentioned but one...

The Alchemist

-Paulo Coelho

@Taylor Philley

Thank you for your opinion.

You're the third investor (myself included) who's familiar with the area that sees red flags here. I believe many of us, at times, have a tendency to over analyze and find ourselves frozen so I had to get a few other opinions and perspectives before entirely dismissing this property with it's potential.

@Russell Brazil

Midland is the basis of what is the Permian Basin.

@Bjorn Ahlblad

Brilliant marketing strategy but this one has been sitting for over two years.

I take that as a red flag in a hot market.

I live in one of this country's most expensive areas, Midland, TX.

Also known as the Permian Basin, it's responsible for 1/4 of this nation's oil and gas production.

As such, people often find themselves paying $1,200/mo for a studio; now, I know some of you are saying "oh try California on for size." I get it BUT, the population here is only about 125,000 people!

With all that said, I stumbled across a quadplex for just $159k and it's been recently renovated?!? You can't buy a gallon of milk out here for $159k!

Exaggerating but this place is flooded with money and investors, any ideas why this property is still there and why it's been there for as long as it has?

Are these red flags? I'm aggressively pursuing my first deal and this one is ALMOST looking like the one...

@Charlene Stovin

It's typically one year.

@Jerel Ehlert

@

You are clearly the expert in the area of wholesaling and probate in Texas. I don't think my question will take up much of your time. Any advice is greatly appreciated.

I came across a property where the owner passed over 30 years ago. His wife preceded him in death and they had no children.

His sister and her family lived in the home off and on until it basically became unliveable several years ago. The sister kept the taxes current and the tax assessor has her name listed on the property, along with her deceased brother (the owner).

Two years ago, she decided to stop paying the property taxes because she "couldn't do anything with it." She said she attempted to sell it but was shortstopped by the title company.

Although eager to sell the property, she feels as if her hands are tied. I would really like to alleviate this burden for this family, hold their hand through the process and solidify my first wholesale deal. Is there a template or an outline for the aforementioned process?

Thanks in advance for any advice.

@Lydia T. I feel like your expertise could be of use as well.